The 3 pillars of Solvency II

Understanding and measuring risks are key elements of Solvency II where undertakings are required to look at their organisation from a risk-based perspective. We provide pragmatic and tailored solutions for a cost-effective implementation of the 3 pillars of Solvency II.

Best estimate

Our team was awarded the “External Expert” tender of the Belgian National Bank (NBB) for the assessment of the best estimate of the technical provisions of a major Belgian insurer. This mission involved life, non-life, health and workers’ compensation portfolios.

Our activities as 1st line actuaries (performing calculations and modelling) or actuarial function holders (auditing and peer-reviewing) for a large number of market players ensure that we continuously follow-up and further develop the best practices in the sector.

Pillar I:

• Calculation of technical provisions
• Economic Balance Sheet
• Calculation of SCR and MCR
• Development of (partial) internal models / Undertaking Specific Parameters
• Validation of models

Pillar II:

• Identifying risks
• Formulating risk appetite
• Performing the ORSA
• Implementing a system of governance and policies

Pillar III:

• QRT’s
• Reporting RSR and SFCR